Corporate Social Responsibility Assignment - Marks and Spencer
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Added on 2020-11-12
Corporate Social Responsibility Assignment - Marks and Spencer
Added on 2020-11-12
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Strategy Coursework
Table of ContentsINTRODUCTION...........................................................................................................................11: Brief description of Marks and Spencer (M&S).....................................................................12: SWOT and VRIO Analysis.....................................................................................................63: Corporate Social responsibilities..........................................................................................114: Different types of strategies..................................................................................................125: Recommendation..................................................................................................................16REFERENCES..............................................................................................................................17
INTRODUCTIONStrategy is defined as a plan of action which is framed and designed by an organisation toachieve its desired goals and objectives within pre-determined time period. It requires aneffective management who are more capable to analyse the company as well as market situationsand accordingly make decisions regarding adoption of strategies and policies so as to sustain incompetitive market for longer period of time. The present assignment report is based on Marksand Spencer which is engaged in selling clothing and home products along with producing ofluxurious food products. The project includes description of an organisation along with anenvironmental analysis using PESTLE and Porter Five Forces. In addition with this, VRIOframework and SWOT analysis are also conducted under this report in order to assist anorganisation to achieve competitive advantage in the market. The concept of Corporate socialresponsibility, Ans-off matrix and porter generic strategy, Bowman strategy clock and anappropriate recommendation to facilitates management to adopt competitive strategies for futuredevelopment of an organisation.1: Brief description of Marks and Spencer (M&S)Marks and Spencer is multinational private company which is engaged in providingmultiple number of products such as clothing, home and luxurious food products. It is operatedmore than 1463 stores which are located in over 57 nations which increases their market shareand profitability. M&S is one of the UK's leading retailer which always tried to maximise thecustomers experience by introducing new and innovation in their business process. The companyfollows flat organisational structure which includes limited level between management andemployees (Beitz, Groenewegen and et. al., 2013). It makes easy for both managers andemployees to communicate directly with their staff without facing any hindrances. Such kind ofstructure in organisation supports employees to get involved in decision-making process whichincreases the effectiveness of decisions made by the management. Along with this, It help inminimising the conflicts as well as issues among employees and enable them to maintain healthyrelationship with them. The details of M&S can be further understood as under:Mission: The mission statement of M&S is to make inspirational quality accessible toothers so as to maximise their satisfaction level and standard of living of people.1
Vision: The vision statement of M&S is to be the standard against which others aremeasured. To achieve this, the company tried to implement various tools such as Benchmarkingwhich help them in implementing rivals strategy into their business practice so as to achievehuge sustainability in market (Berne and Degener, 2012).Objectives: The objective set by the Board of M&S is to build sustainable businessthrough consistent, profitable growth and to ensure that the company act responsibly in meetingtheir accountability towards its shareholders and wide stakeholders.Size: M&S has attained more than 80,000 employees who are engaged in serving morethan 32 million customers each week. It came into market in the year 1901 and from then to now,it has attained over 1035 stores in the UK itself which makes them largest retailer of UK holdingapprox. 17% of UK clothing market. Out of the UK, M&S has attained more than 428 outletswhich are located in over 57 nations (Marks and Spencer - Statistics & Facts, 2018). Therefore,the size of company is much wider.Current financial position: M&S has currently attained strong financial position globallywhich can be easily seen from the below picture. It has generated over 29.1 million pound in theyear 2018 which is huge in figures.2
Process of strategy development in M&S: Strategy refers to the direction and scope of anorganisation over the long-term which assist an organisation to achieve competitive advantagethrough configuration of resources within a challenging environment, to meet the needs andrequirements of market and fulfil stakeholders expectations. M&S develops strategies on thebasis of market situations which are fluctuated on frequent basis. For this, the management hasused PESTLE and Porter five forces model to analyse the market fluctuations and on the basis ofwhich framed suitable strategies for the betterment of an organisation (Cass, 2011).PESTLE analysis:3
Illustration 1: PESTLE AnalysisSource: PESTLE Analysis. 2016Political: It consists of factors which includes fluctuations in political stability whichcauses changes in rules and regulations implemented for the organisations. UK government setthe rules and regulations for all retailers which is essential to comply with in order to achievehuge sustainability. For example, fair trade policy formulated by UK government has includedcut salt and fat in M&S foods, recycles packaging and animal welfare programme.Economical: It includes fluctuations in economy of a nation which can affect the salesfigure and revenue of an organisation due to having changes in buying behaviour of people.M&S is mainly operated its business functions in UK market where the government are morestable. Thus, strategy should be made regarding expansion of business in developed nationswhere the people have huge disposable income to spend on their products and services (PESTLEAnalysis, 2016).Social: It includes interest and buying pattern of an individual and society as a whole. Itcan hugely impact the demands of products and services offered by an organisation such asM&S. For example, In India traditional clothing products are more demanding due to highpreferences of people thus the expansion of business by M&S cannot be successful due toengaging in selling western cloths.4
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